To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

The course was a complete scam.

Quote from @Jairo Montezuma: Agreed with the above, your problem will come when you need to get someone out there on a Saturday morning around 6 am and you are three thousand miles away on vacation.

What off-market really means is that the seller refuses to sign an exclusive listing agreement with an agent but tells the agent if they bring them a buyer, they'll payout a commission.

With the addition of projects like the orpheum and the waterfront development well on its way I think Dover might be one of the best buys along the seacoast right now. 

In the end we had to pay to turn the space back in to a white box/shell and closed with basically zero physical assets.

if the note is currently in default and we can buy at at least a small discount, we may be able to restructure the note with no monthly payments - we would get paid all interest at closing when the property sells.  

I thank the New York Stock Exchange for choosing Texas.

I found this one on realtor.com by doing a search that only showed me properties with asking prices no higher than $150k

Would you recommend this strategy to a new investor like myself?